TAIEX dips on pullback
The TAIEX encountered a mild pullback yesterday as investors locked in gains they had built up in recent sessions, dealers said.
The weighted index closed down 25.79 points, or 0.34 percent, at 7,623.26, after moving between 7,616.79 and 7,673.62, on turnover of NT$103.18 billion (US$3.55 billion).
The machinery and electronics sector suffered the steepest decline among the eight major sectors of the market, finishing down 0.68 percent.
UMC denies alliance report
United Microelectronics Corp (UMC, 聯電) denied local media reports that US rival GlobalFoundries Inc will take a stake in the Taiwanese contract chipmaker.
UMC said there have been no discussions on stake acquisition.
The local media cited unnamed market sources yesterday as saying that UMC and GlobalFoundries were planning to set up a strategic alliance, adding in an initial stage, the US firm would take a stake in its Taiwanese counterpart.
The two companies would then develop cross shareholding to strengthen their ties and help them compete with bigger rival Taiwan Semiconductor Manufacturing Co (台積電), the reports said.
MOEA sponsoring meeting
The Ministry of Economic Affairs (MOEA) will hold a National Industrial Development Meeting at the Taipei International Convention Center on Monday and Tuesday next week.
About 400 representatives from industries, the government and research institutions will discuss how to promote emerging industries and transform manufacturing industries to services-center industries, the ministry said on Wednesday.
Integration of services sectors with information and communication technologies, the internationalization of domestic service sectors and how to enhance exporters’ global competitiveness will also be discussed.
Hon Hai boosting TV output
Hon Hai Precision Industry Co (鴻海精密) plans to expand production of its 60-inch television sets by opening a new factory at its complex in Kaohsiung Software Technology Park (高雄軟體科技園區), company sources said yesterday.
Starting early next year, the factory will produce about 300 to 500 units per day, supplementing the 300-unit daily output at Hon Hai’s TV manufacturing facility in New Taipei City, the sources said.
This will bring the total production of Hon Hai’s 60-inch TV model to about 15,000 to 20,000 units per month probably by the Lunar New Year, the sources said.
Sales of Hon Hai’s 60-inch TVs, which were launched on Nov. 11, are forecast to top 10,000 units by the end of the year. The company is expected to launch a 70-inch model in the second quarter of next year.
MediaTek delays MStar deal
MediaTek Inc (聯發科), the nation’s biggest handset chip designer, yesterday said it would push back acquisition of a 48 percent stake in TV chip designer MStar Semiconductor Inc (晨星半導體) from Jan 1 to May 1.
The delay was because the deal is still under the review of overseas regulators, MediaTek said in a filing to the Taiwan Stock Exchange. Chinese and South Korean competition watchdogs are reviewing the deal.
In August, MediaTek shareholders approved the purchase of 100 percent of MStar in two phases. MediaTek will pay about NT$115 billion in cash and stock for the acquisition.
NT dollar loses ground
The New Taiwan lost ground against the US dollar yesterday, declining NT$0.034 to close at the day’s high of NT$29.136. Turnover totaled about US$702 million during the trading session.